Lance Armstrong faces $3m lawsuit for fraud

Last Updated: Saturday, March 2, 2013 - 14:15

New York: In a latest addition to the numerous legal challenges for Lance Armstrong, the disgraced cyclist has been slapped with a three million dollar-lawsuit claiming fraud, unjust enrichment and breach of contract by an insurance company.

Acceptance Insurance from Nebraska, United States which had filed the suit, is hoping to recover bonuses it paid to Armstrong for three of his Tour de France wins from 1999 to 2001 as well as damages and legal fees, New York Daily News reports.

According to the suit, Armstrong committed fraud by his cheating and deception for which the company is seeking repayment of three million dollars which was obtained by the cyclist through fraud.

Claiming that Armstrong and Tailwind Sports, the company that managed the cyclist`s racing team violated its contract with Acceptance by using banned substances, the suit said that Armstrong and his associates covered up the cyclist`s doping from 1999 until January in an attempt to prevent Acceptance from pursuing litigation in time.

Another company, SCA Promotions had filed a 12.1 million dollar-lawsuit last month for bonus money, legal fees and interest. The firm paid Armstrong`s bonuses when he won the Tour de France in 2002, 2003, 2004, the report added.

ANI



First Published: Saturday, March 2, 2013 - 14:15

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